Columbia Sportswear (NASDAQ:COLM – Get Free Report) issued its quarterly earnings results on Wednesday. The textile maker reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20, Briefing.com reports. Columbia Sportswear had a return on equity of 13.01% and a net margin of 6.72%. The business had revenue of $931.80 million for the quarter, compared to the consensus estimate of $937.17 million. During the same quarter in the previous year, the company posted $1.70 earnings per share. Columbia Sportswear’s revenue for the quarter was down 5.5% compared to the same quarter last year. Columbia Sportswear updated its FY24 guidance to $3.70-$4.05 EPS and its FY 2024 guidance to 3.700-4.050 EPS.
Columbia Sportswear Price Performance
COLM traded up $4.21 during trading on Thursday, reaching $80.42. 757,337 shares of the stock traded hands, compared to its average volume of 457,203. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 3.00 and a beta of 0.92. Columbia Sportswear has a fifty-two week low of $71.21 and a fifty-two week high of $87.23. The stock’s 50-day simple moving average is $81.04 and its two-hundred day simple moving average is $80.76.
Analysts Set New Price Targets
COLM has been the topic of a number of research analyst reports. Stifel Nicolaus upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and lifted their price target for the company from $84.00 to $92.00 in a report on Monday, July 8th. StockNews.com downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Finally, Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Columbia Sportswear in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $77.00.
About Columbia Sportswear
Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.
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